Indus Towers Ltd News

Indus Towers to acquire telecom sites of Airtel, Hexacom for Rs 3,309 cr

Telecom infrastructure firm Indus Towers will acquire mobile sites of its parent firm Bharti Airtel and sister concern Bharti Hexacom for Rs 3,308.7 crore, the company said in a regulatory filing. The boards of Bharti Airtel and Bharti Hexacom have approved the sale of telecom towers for Rs 2,147.6 crore and Rs 1,134 crore respectively. "The Board of Directors...have today, approved the acquisition of passive infrastructure assets/ telecom towers from Bharti Airtel Limited and Bharti Hexacom Limited, by way of slump sale," Indus Towers said in a regulatory filing. The country's largest telecom infrastructure Indus Towers has a pan-India presence with 234,643 towers and 386,819 co-locations as on December 31, 2024. Through the proposed transaction, the company plans to acquire aggregate of approximately 16,100 telecom towers. "The aggregate cost of acquisition will be up to a maximum of Rs 33,087 million subject to the closing adjustments as agreed between the parties," Indus ...

Indus Towers Q3FY25 results: Net profit rises 160% to Rs 4,003 crore

Indus Towers on Thursday reported more than doubling of its consolidated net profit to Rs 4,003 crore in the third quarter of 2024-25 on the back of strong tower and colocation additions as well as significant collections of overdue from "a major customer". The December quarter had a write-back of Rs 3,024 crore in provision for doubtful receivables, aided by collections against past overdue, the company said in its earnings release. The tower infrastructure company expects the resumption of network expansion by "a major customer" and rollouts by others, to drive growth. The consolidated profit after tax stood at Rs 4,003 crore, 160 per cent year-on-year increase as compared to Rs 1,541 crore in Q3FY24. The quarter saw an improvement on various metrics including return on capital employed, which rose to 29.3 per cent as against 19.2 per cent on Y-o-Y basis. "We are pleased to see our ability to maintain a dominant share of our major customers' rollouts reap dividends in the form o

Vodafone Idea stocks extend rally on AGR waiver buzz; gain 30% in 1 week

The government is considering a proposal to waive 50% of interest and 100% of penalties and interest on penalties that make up a bulk of the AGR dues levied on telcos

Stocks to Watch, Dec 17: Indus Towers, Religare Ent, Oriana Power, Vedanta

Stocks to watch on December 17, 2024: Oriana Power has signed an MOU with Rajasthan for exploring renewable energy projects

Indus Towers to acquire 26 pc stake in JSW Green Energy Eight for Rs 38 cr

Telecom infrastructure company Indus Towers on Friday said it will acquire a 26 per cent stake in JSW Green Energy Eight for Rs 38.03 crore to procure renewable energy from a solar PV plant. Indus Towers will receive 130 MW of renewable energy from a solar photovoltaic (PV) power plant, according to a regulatory filing. "...the Company, on December 12, 2024, has entered into a Power Purchase Agreement with JSW Green Energy Eight Limited, a special purpose vehicle (SPV), for the procurement of renewable energy from Solar PV plant, under Captive mode. "In connection with this, the Company will also enter into an agreement for a proposed investment of approximately Rs 38.03 crore, through the subscription to equity shares of the SPV..." it said. JSW Green Energy Eight was incorporated in October 2024 to build, develop, own, generate, supply, accumulate, transmit, distribute, store, purchase, and sell electrical power or any other energy by using conventional and/or non-conventional ..

Why Vodafone Idea stock is falling, Indus Towers climbing today? Details

The UK's Vodafone Group Plc is selling its remaining 3% stake in Indus Towers in block deal and fully exiting the company

Markets Today: Sensex, GIFT Nifty, FIIs, RBI Policy; IPO, Voda Idea, Airtel

Pre-market update: Asian shares traded with steady gains on Thursday; Back home the weekly Nifty expiry and upcoming RBI policy outcome to weigh on investor sentiment today.

UK's Vodafone Group to sell remaining 3% stake in India's Indus Towers

Post this, Vodafone's stake in Indus Towers will fall below 1 per cent. Before this transaction Vodafone had 82.5 million shares or 3.1 per cent stake in Indus Towers

Telecom stocks gain as govt waives bank guarantee; Vodafone Idea surges 16%

Vodafone Idea is expected to be one of the key beneficiaries as the company was required to submit a total of Rs 24,700 crore in BGs, ICICI Securities said in a note.

Indus Towers Q2FY25 results: Net profit increases 72% to Rs 2,224 cr

Telecom infrastructure company Indus Towers on Tuesday reported a 71.7 per cent year-on-year rise in consolidated net profit to Rs 2,224 crore for the September 2024 quarter. Notably, Q2 FY25 had a write-back of Rs 1,077 crore in provision for doubtful receivables, aided by collections against past overdue, the company said in its earnings release. For the just-ended quarter, the consolidated revenues stood at Rs 7,465 crore, 4.7 per cent higher than the year-ago period. "Our operational performance reflects sustained demand for network expansion and our endeavour towards securing a larger share of our customers' rollouts. This continues to drive our financial performance, aided by steady collection of past overdue from a major customer," Prachur Sah, Managing Director and CEO of Indus Towers, said. Sah noted that given a healthy cash generation, the company had rewarded its shareholders through buyback during the quarter. "We expect the performance to continue in the wake of netw